The follow-on public offer of private sector lender Yes Bank has managed to sail through on July 17 as largely qualified institutional investors (QIBs) helped the FPO get subscribed 93 percent (95 percent including anchor book).
The portion set aside for QIBs received subscription of 1.90 times, while that of non-institutional investors subscribed 63 percent, retail investors 47 percent and employees 33 percent.
The basis allotment details have been announced. Investors who participated in the bidding process can check their allotment status by clicking on Link 1 or Link 2.
In the first link, investor has to select "Equity" under issue type; in the second row select Yes Bank Limited under "Issue Name"; in third row - type your "Application Number"; in the last row - fill the "PAN No" (Permanent Account Number) and then click on "Search" button.In the second link
- one has to select IPO "Yes Bank" and then you can get the allotment status either through Application Number, DP ID/Client ID or PAN.
->> If one selects "Application Number" option then he/she has to select "Non ASBA or ASBA", put "Application Number", enter "Captcha" (which is available in the above box) and finally click on "Submit" button to get the allotment status.
->> If one selects DPID (Depository ID)/Client ID, then he/she has to select "NSDL or CDSL", enter "DP ID", put "Client ID", type "Captcha" (which is available in the above box) and finally click on "Submit" button to get the allotment status.
->> If one selects PAN (Permanent Account Number), then he/she has to enter "PAN", type "Captcha" (which is available in the above box) and finally click on "Submit" button to get the allotment status.
Basis of allotment is likely to have finalised in the ratio of 1:1.
Shares may get credited by July 24, while the listing of FPO shares is likely to take place on July 27.
Yes Bank share price corrected 5.68 percent on July 22 and so far corrected 40 percent from June 10 when the bank had fixed price band for its public issue at a big discount to the market price.
Majority of bids were at lower end of price band of Rs 12-13 per share. Yes Bank received bids worth around Rs 14,272 crore (including anchor book of Rs 4,098 crore) against issue size of Rs 15,000 crore, so the rest of money is expected to be received from underwriter SBI Capital Markets.
SBI Capital Markets had committed underwriting amount of up to Rs 3,000 crore, as per the prospectus.
"Finally Yes Bank FPO managed to sail, credit goes to SBI team, somehow if we see the subscription data, institutions seem to be having more faith in Yes Bank than individual investors. Allotment is assumed to get done at Rs 12 lower band which says there is a demand but at lower band," Prashanth Tapse, AVP Research at Mehta Equities told Moneycontrol.
Yes Bank has been supported by marquee institutions – State Bank of India, Kotak Mahindra Bank, ICICI Bank, Federal Bank, HDFC, Axis Bank, Bandhan Bank and IDFC First Bank which all had invested Rs 10,000 crore in the bank through Reconstruction Scheme in March this year.
Bank will utilise the net proceeds towards ensuring adequate capital to support its growth and expansion, including enhancing its solvency and capital adequacy ratio.
Kotak Mahindra Capital Company, SBI Capital Markets, Axis Capital, Citigroup Global Markets India, DSP Merrill Lynch, HSBC Securities and Capital Markets (India), ICICI Securities and Yes Securities India were the book running lead managers to the issue.